Robert Ronning Shares Excitement over Letter of Intent from Victory Square Technologies

The LOI comes as PayVida is preparing to become a publicly traded entity

Vancouver, British Columbia - June 13, 2018 /MarketersMedia/ —

Co-founder of the blockchain-based payment processor PayVida Robert Ronning is sharing the news that Victory Square Technologies (“Victory Square”) plans on acquiring 33% of the company within the year. “We had multiple offers, a lot of people who wanted to lead the private placement. We are certainly honored to enter into an agreement with such a great company as Victory Square, and this partnership will definitely shape our future,” Robert Ronning commented.

The LOI comes as PayVida is preparing to become a publicly traded entity, with expectations of this happening in the early part of 2018. The support of Victory Square will allow the Vancouver-based enterprise to advance its mission of revolutionizing the Canadian payment processing industry. Starting with the premise that simplicity, affordability, and transparency are the key attributes of this service, PayVida has quickly progressed to the point where its technology and the expertise of its team have empowered the creation of an innovative, highly differentiated offering. With a keen sense of ethics and a focus on the morality side of payment processing, the company takes pride in being the first Canadian provider to eliminate the onus of contracts and discard cancellation fees while offering the benefits of next-day funding and a price lock guarantee. “The entire blueprint and DNA of what we built from day one rests on the notion of no contracts and no cancellation fees. We have the industry’s most transparent pricing, and we do not charge a monthly minimum,” as noted by Ronning.

Established in 2012 and headquartered in Vancouver, British Columbia, Victory Square is the ideal partner for PayVida given its focus on entrepreneurs with game-changing ideas. Businesses supported by the blockchain-focused venture builder obtain access to educational programs, global mentorship networks, distribution partners, creative workspaces, resources, and operational support in various other fields. Victory Square selects ventures with a potential for greatness and helps them build scale internationally. To date, it has changed the fortunes of more than 1,000 entrepreneurs and supported over 500 startups, assisting them in raising more than $100 million in combined funding. Its network partners include leading accelerators such as Y Combinator, 500 Startups, Techstars, and Launch Academy. The portfolio built by Victory Squareis a testament to the forward-thinking approach of the leadership team led by CEO Shafin Diamond Tejani. The company is investing in all the technologies that are disrupting economic sectors: artificial intelligence, virtual/augmented/mixed reality, and blockchain. In 2017, Victory Square became a member of the Blockchain Investors Consortium (BIC) – an organization dedicated to identifying global investment opportunities in the digital assets category.

Robert Ronning co-founded Dominion Card Services in 2012 and led it for ten months, using this time to refine the vision for his next venture. The financial services technology provider he launched early in 2013, PayVida Solutions is on a mission “to rebuild the payment industry from the ground up” and radically change the way businesses get paid. PayVida aims to spearhead the creation of a healthier marketplace by offering ethical and affordable payment processing solutions to business owners and entrepreneurs.

JAKARTA, Indonesia — Indonesian President Joko Widodo said authorities have the volatile situation in the country's capital under control after six people died Wednesday in riots by supporters of his losing rival in last month's presidential election. The clashes began Tuesday night when supporters of former Gen. Prabowo Subianto tried to force their way into the downtown offices of the election supervisory agency and have continued unabated since then. More than two dozen vehicles were burned as rioters took over neighborhoods in central Jakarta, throwing rocks and Molotov cocktails at police who responded with tear gas, water cannons and rubber...

MANILA, Philippines — The Philippines is recalling its ambassador and consuls in Canada over Ottawa's failure to comply with a deadline to take back truckloads of garbage that Filipino officials say were illegally shipped to the Philippines years ago, officials said Thursday. Foreign Secretary Teodoro Locsin Jr. tweeted that the Philippines "shall maintain a diminished diplomatic presence in Canada until its garbage is ship bound there." The drastic move is the latest strain in Philippine relations with Canada under President Rodrigo Duterte. Duterte threatened last month to forcibly ship the containers of garbage back to Canada and dump some at...

BANGKOK — The Nation, one of Thailand's two English-language dailies, announced Thursday it will stop publishing its print edition by the end of June but will continue with an online version. The CEO of the Nation Multimedia Group, Somchai Meesaen, said the newspaper will switch to digital platforms starting July 1 because its profit has declined in the past decade. "It will be The Nation's new step," he said on a program on the group's television channel, confirming reports that had circulated in other media a day earlier. The Nation was founded in 1971 largely as a progressive alternative to...

BANGKOK — World stock markets turned higher on Tuesday, stabilizing after heavy losses on Wall Street, as investors monitor the escalating dispute between China and the U.S. over trade. The FTSE 100 in Britain rose 0.9% to 7,230, while France's CAC 40 advanced 1.2% to 5,324. Germany's DAX advanced 0.6% to 11,949. Futures augured an upbeat start on Wall Street, with the contract for the Dow Jones Industrial Average up 0.6% and that for the S&P 500, which on Monday suffered its biggest loss since January, adding 0.7%. Investors already rattled by mounting tensions between Beijing and Washington got an...

PUTRAJAYA, Malaysia — Malaysian Prime Minister Mahathir Mohamad defended his government's record on the anniversary of its election victory Thursday and reiterated he will hand over power to his successor Anwar Ibrahim though he wasn't clear on when. Mahathir's four-party alliance ousted the coalition that has been in power since independence in 1957 amid anger over then-leader Najib Razak's massive financial scandal and the rising cost of living. But euphoria over the victory has faded and the new government has been accused of backsliding on reform promises in its election manifesto. Mahathir told foreign journalists there had been hiccups in...